Quick Answer: You can buy a home in Bergen County with as little as 0% down (VA loans) or 3% down (Conventional 97). For a $400,000 home, that's $0 to $12,000 down.
New Jersey offers the NJHMFA First-Time Homebuyer Mortgage Program with up to $15,000 in down payment assistance. This is a 0% interest, deferred loan with no payments until you sell or refinance.
No! The 20% down payment myth keeps many first-time buyers on the sidelines. While 20% down avoids private mortgage insurance (PMI), most Bergen County buyers purchase with much less. In 2024, the average first-time buyer put down just 6%.
Q: How much should I save for a down payment in Bergen County?
A: For a $500,000 home, you need $15,000 (3% down) to $100,000 (20% down). Most first-time buyers aim for 5-10%.
Q: Can I use gift money for my down payment in NJ?
A: Yes! FHA, VA, and conventional loans all allow gift funds from family members for down payments. You'll need a gift letter documenting the source.
Published: November 15, 2025 | Updated: January 5, 2026
Author: Heather Corrigan, CDRE, SRES
Certified Divorce Real Estate Expert and Seniors Real Estate Specialist with RE/MAX Signature Homes in Closter, NJ.
339+ five-star reviews. 80+ families helped in 2025. 3x Bergen County Real Producers Cover Feature.
Contact: (917) 440-3767 | heather.gocard@gmail.com
Office: RE/MAX Signature Homes, 189 Homans Ave, Closter, NJ 07624